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PalmPay Reinforces Commitment to Educate Users through Monthly Wallet Safety Workshops

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2 years ago

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PalmPay

PalmPay is taking its commitment to user security to the next level by integrating liveness detection and facial recognition capabilities into its transaction scenarios, particularly during withdrawals

LAGOS, Nigeria, September 6, 2023/APO Group/ — 

As electronic payment platforms gain traction, the need for consumers to be conscious of their online security becomes paramount. Recent data highlights a surge in Nigerians adopting electronic platforms for day-to-day transactions. According to a recent report by the Financial Institutions Training Centre (FITC) on Fraud and Forgeries in Nigerian banks for Q2, 2023, fraud cases have jumped to a whopping 276.98%. 

According to Chika Nwosu, MD/CEO of PalmPay, “With the growing use of digital payment platforms, new risks and concerns emerge for operators and users.”

In 2022, PalmPay introduced the Wallet Safety Workshop to ensure the security of user transaction privacy and stable and reliable transactions. This monthly campaign for payment security awareness helps customers improve their overall security knowledge, manage their personal information online, and learn how to spot and avoid e-scammers and fake news. 

Since the launch of the workshop, PalmPay has been using online and offline channels, including the app, social media, official website, and printed materials, to publicise and expose examples of social media and telecom fraud, as well as how to spot fraudulent behaviour and necessary steps to take to avoid being trapped.

In the past year, PalmPay has been educating users and the general public on various aspects of cybersecurity knowledge, such as password and devices management, risk identification, phishing, fraud detection, and payment security.

Internally, PalmPay has significantly fortified its security features, aiming to empower users in account protection. The Fintech has taken action against fraudulent accounts through an investigation of internal accounts and has banned thousands of problematic accounts to enhance user account security.

With the growing use of digital payment platforms, new risks and concerns emerge for operators and users

The introduction of device management feature allows users to control trusted devices and remove untrusted ones. When accessing the PalmPay app from an untrusted device, a comprehensive security verification process is required, combining OTP and PIN, to ensure top-tier security.

Additionally, an automatic logout feature has been implemented, allowing users to set a time limit for inactivity, followed by PIN entry upon re-entry. PalmPay also offers fingerprint and facial ID login options to enhance account access. In 2023, millions of users have linked secure email addresses for seamless receipt of in-app OTPs and future security-related notifications.

PalmPay is taking its commitment to user security to the next level by integrating liveness detection and facial recognition capabilities into its transaction scenarios, particularly during withdrawals. This security measure ensures a more accurate identification of potential fraudulent activities and unauthorized access, further safeguarding customer accounts.

Recently, PalmPay unveiled the new PalmPay Business App, featuring a comprehensive security upgrade. It now integrates advanced features such as liveness detection and facial recognition. The upgraded system verifies if the user’s actions are performed by the genuine account holder. Even in cases of telecom fraud where sensitive information like OTP/PIN might have been compromised, the system can use facial recognition to confirm the user’s identity, thereby safeguarding customer accounts and financial assets.

According to Mr Nwosu, “It’s impressive that these efforts have led to remarkable financial recovery. In the first seven months of 2023, over $677 million has been successfully recovered for more than 853,000 users. This achievement highlights our commitment to safeguarding our customers’ financial interests and assets.” He urged Nigerians who have not embraced e-wallet to do so because it is secure, convenient and accessible.   

The brand commits to keep educating users and the general public on security guidelines both on online and offline channels.

Distributed by APO Group on behalf of PalmPay.

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As global power structures shift, Invest Africa convenes The Africa Debate 2026 to redefine partnership in a changing world

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2 days ago

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February 6, 2026

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Debate

The Africa Debate 2026 will provide a platform for this essential, era-defining discussion, convening leaders to explore how Africa and its partners can build more balanced, resilient and sustainable models of cooperation

LONDON, United Kingdom, February 5, 2026/APO Group/ –As African economies assert greater agency in a rapidly evolving global order, Invest Africa (www.InvestAfrica.com) is delighted to announce The Africa Debate 2026, its flagship investment forum, taking place at the historic Guildhall in London on 3 June 2026.

Now in its 12th year, The Africa Debate has established itself as London’s premier platform for African investment dialogue since launching in 2014, convening over 800 global decision-makers annually to shape the future of trade, finance, investment, and development across the continent.

Under the theme “Redefining Partnership: Navigating a World in Transition”, this year’s forum will focus on Africa’s response to global economic realignment with greater agency, ambition and economic sovereignty.

The Africa Debate puts Africa’s priorities at the centre of the conversation, moving beyond traditional narratives to focus on ownership, resilience and long-term value creation.

“Volatility is not new to Africa. What is changing is the opportunity to respond with greater agency and ambition,” says Invest Africa CEO Chantelé Carrington.

“This year’s edition of The Africa Debate asks how we strengthen economic sovereignty — from access to capital and investment to financial and industrial policy — so African economies can take greater ownership of their growth. Success will be defined by how effectively we turn disruption into leverage and partnership into shared value.”

The Africa Debate 2026 will provide a platform for this essential, era-defining discussion, convening leaders to explore how Africa and its partners can build more balanced, resilient and sustainable models of cooperation.

Key challenges driving the debate

Core focus areas for this year’s edition of The Africa Debate include:

This year’s edition of The Africa Debate asks how we strengthen economic sovereignty — from access to capital and investment to financial and industrial policy

Global Realignment & New Partnerships

How shifting geopolitical and economic power structures are reshaping Africa’s global partnerships, trade dynamics and investment landscape.

Financing Africa’s Future

The growing need to reform the global financial architecture, new approaches to development finance, as well as the strengthening of market access and financial resilience of African economies in a changing global system.

Strategic Value Chains

Moving beyond primary exports to build local value chains in critical minerals for the green economy. Also addressing Africa’s energy access gap and mobilising investment in renewable and transitional energy systems.

Digital Transformation & Technology

Unlocking growth in fintech, AI and digital infrastructure to drive productivity, inclusion, and the next phase of Africa’s economic transformation.

The Africa Debate 2026 offers a unique platform for high-level dialogue, deal-making, and strategic engagement. Attendees will gain actionable insights from leading policymakers, investors and business leaders shaping Africa’s economic future, while building strategic partnerships that define the continent’s next growth phase.

Registration is now open (http://apo-opa.co/46b19gj).

Distributed by APO Group on behalf of Invest Africa.

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Zion Adeoye terminated as Chief Executive Officer (CEO) of CLG due to serious personal and professional conduct violations

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2 days ago

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February 6, 2026

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CLG

After a thorough internal and external investigation, along with a disciplinary hearing chaired by Sbongiseni Dube, CLG (https://CLGglobal.com) has made the decision to terminate Zion Adeoye due to serious personal and professional conduct violations. This process adhered to the Code of Good Practice of the Labour Relations Act, ensuring fairness, transparency, and compliance with South African law.

Mr. Adeoye has been held accountable for several serious offenses, including:

  • Making malicious and defamatory statements against colleagues
  • Extortion
  • Intimidation
  • Fraud
  • Misuse of company funds
  • Theft and misappropriation of funds
  • Breach of fiduciary duty
  • Mismanagement

His actions are in direct contradiction to our firm’s core values. We do not approve of attorneys spending time in a Gentleman’s Club. CLG deeply regrets the impact this situation has had on our colleagues and continues to provide full support to those affected.

We want to express our gratitude to those who spoke up and to reassure everyone at the firm of our unwavering commitment to maintaining a respectful workplace. Misconduct of any kind is unacceptable and will be addressed decisively.

We recognize the seriousness of this matter and have referred it to the appropriate law enforcement, regulatory, and legal authorities in Nigeria, Mauritius, and South Africa. We kindly ask that the privacy of the third party involved be respected.

Distributed by APO Group on behalf of CLG.

 

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The International Islamic Trade Finance Corporation (ITFC) Strengthens Partnership with the Republic of Djibouti through US$35 Million Financing Facility

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2 days ago

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February 6, 2026

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ITFC

This facility forms part of the US$600 million, three-year Framework Agreement signed in May 2023 between ITFC and the Republic of Djibouti, reflecting the strong and growing partnership between both parties

JEDDAH, Saudi Arabia, February 5, 2026/APO Group/ –The International Islamic Trade Finance Corporation (ITFC) (https://www.ITFC-IDB.org), a member of the Islamic Development Bank (IsDB) Group, has signed a US$35 million sovereign financing facility with the Republic of Djibouti to support the development of the country’s bunkering services sector and strengthen its position as a strategic regional maritime and trade hub.

The facility was signed at the ITFC Headquarters in Jeddah by Eng. Adeeb Yousuf Al-Aama, Chief Executive Officer of ITFC, and H.E. Ilyas Moussa Dawaleh, Minister of Economy and Finance in charge of Industry of the Republic of Djibouti.

The financing facility is expected to contribute to Djibouti’s economic growth and revenue diversification by reinforcing the competitiveness and attractiveness of the Djibouti Port as a “one-stop port” offering comprehensive vessel-related services. With Red Sea Bunkering (RSB) as the Executing Agency, the facility will support the procurement of refined petroleum products, thus boosting RSB’s bunkering operations, enhancing revenue diversification, and consolidating Djibouti’s role as a key logistics and trading hub in the Horn of Africa and the wider region.

We look forward to deepening this partnership, creating new opportunities, and leveraging collaborative programs to advance key sectors and drive sustainable economic growth

Commenting on the signing, Eng. Adeeb Yousuf Al-Aama, CEO of ITFC, stated:

“This financing reflects ITFC’s continued commitment to supporting Djibouti’s strategic development priorities, particularly in strengthening energy security, port competitiveness, and trade facilitation. We are proud to deepen our partnership with the Republic of Djibouti and contribute to sustainable economic growth and regional integration.”

H.E. Ilyas Moussa Dawaleh, Minister of Economy and Finance in charge of Industry of the Republic of Djibouti, commented: “Today’s signing marks an important milestone in the development of Djibouti’s bunkering services and reflects our strong and valued partnership with ITFC, particularly in the oil and gas sector. This collaboration supports our ambition to position Djibouti as a regional hub for integrated maritime and logistics services. We look forward to deepening this partnership, creating new opportunities, and leveraging collaborative programs to advance key sectors and drive sustainable economic growth.”

This facility forms part of the US$600 million, three-year Framework Agreement signed in May 2023 between ITFC and the Republic of Djibouti, reflecting the strong and growing partnership between both parties.

Since its inception in 2008, ITFC and the Republic of Djibouti have maintained a strong partnership, with a total of US$1.8 billion approved primarily supporting the country’s energy sector and trade development objectives.

Distributed by APO Group on behalf of International Islamic Trade Finance Corporation (ITFC).

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